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From: Emerging Textiles
4 May 2010 -- Cotton yarn prices continued surging in the past weeks in Pakistan, as reflected by our list of prices in Karachi and Faisalabad. Demand is however weaker, as yarn processors seem increasingly reluctant in accepting such extremely high levels, our Pakistan Correspondent reports.
Cotton yarn prices on the Pakistan’s yarn markets jumped by more than 15% during the last one month.
20s and 30s cotton yarns even more surged on the Faisalabad yarn market.
A few lots of 30s carded 100% cotton yarns have crossed Rs. 1,400 per bundle of 10 lb (US$ 3.67 per kilo) on the Karachi yarn market.
Pakistani spinners are still raising their asking prices, being booked until the first week of June.
A similar surge in cotton lint prices is also pushing up the yarn prices on Pakistan’s domestic market.
Slowing Down Activity
Extremely high prices have however slowed down the trading activities on the yarn markets.
Although inventories fell at weavers and knitters, they are reluctant in accepting the new price levels, waiting for a return to more stability on the yarn market.
A few spinners slightly reduced their prices in the past week, as a result.
Most of them are however maintaining prices at their very high levels, and are in no mood to reduce their offers.
Power Resumption
Power supply for the spinning industry has been improved.
The spinning industry has been exempted from the power cuts in the country.
Effective from 4th May 2010, the Polyester Staple Fiber (PSF) prices have been raised by Rs. 3 per kg to Rs. 139 per kg.
This should push Polyester-Cotton (PC) yarn prices by another 2-3 percent.
Overall yarn prices on the domestic market are expected to remain firm with a slight downward technical correction, however.
Cotton Market
Cotton fiber prices surged to new record levels on Pakistan’s domestic market, at 6,800 rupees per maund of 37.32 kg on the physical trading. Credit deals are even higher.
The benchmark indicator of the Karachi Cotton Association (KCA) was also adjusted upward at Rs. 6,700 per maund.
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